SAN ANTONIO, TX – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, announced the sale of Fredericks Circle Shopping Center, (top left photo) located at 4400 Fredericksburg Road. Jason Brumm (bottom left photo) and Jerry “JJ” Williams, )middle right photo) CCIM, with Grubb & Ellis’ San Antonio office, represented the buyer in the transaction.
(The price and terms of the deal were not disclosed.)
A San Antonio-based investment group headed by Daniel Jacob Jr, CCIM purchased the 81,784-square-foot shopping center from a local owner. The property is located one block south of Crossroads Mall and less then a mile inside Loop 410. The property was 88 percent occupied at the time of sale with a good Hispanic-based tenancy.
“The San Antonio market and Texas in general still offer investors a good environment to place cash,” said Williams. “The East and West coast markets have cooled, allowing Texas-based investors a historical stable cash flow.”
Brumm added, “While we don’t count on property appreciation, the overall long-term investments have proven worthwhile to our clients.
A San Antonio-based investment group headed by Daniel Jacob Jr, CCIM purchased the 81,784-square-foot shopping center from a local owner. The property is located one block south of Crossroads Mall and less then a mile inside Loop 410. The property was 88 percent occupied at the time of sale with a good Hispanic-based tenancy.
“The San Antonio market and Texas in general still offer investors a good environment to place cash,” said Williams. “The East and West coast markets have cooled, allowing Texas-based investors a historical stable cash flow.”
Brumm added, “While we don’t count on property appreciation, the overall long-term investments have proven worthwhile to our clients.
"With our lower entry point on a cost per square foot basis, investors feel there is an opportunity to preserve gains made in other markets, while positioning themselves to take advantage of market momentum in a good environment. The San Antonio market continues to create and maintain jobs, quarter after quarter.”
“Jason and JJ have done an outstanding job of finding the right properties for my partners to maximize their investment,” said Jacob, president of San Antonio-based Daniel Jacob Interests Inc. “In this case it was a value-added opportunity in which they were able to match an asset with a buyer that recognized its potential value.”
Contact: Damon Elder, Phone: 714.975.2659, Email: damon.elder@grubb-ellis.com
“Jason and JJ have done an outstanding job of finding the right properties for my partners to maximize their investment,” said Jacob, president of San Antonio-based Daniel Jacob Interests Inc. “In this case it was a value-added opportunity in which they were able to match an asset with a buyer that recognized its potential value.”
Contact: Damon Elder, Phone: 714.975.2659, Email: damon.elder@grubb-ellis.com
